Since its inception, GMX has done well in volume growth and has managed to capture a fraction of dYdX’s pie. The average daily traded volume has surpassed USD $150M since the start of the year.
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The decentralized exchange ecosystem is based on two tokens: GLP and GMX. The first token serves to supply liquidity.
This isolation prevents all liquidity providers from facing risk if one asset’s price is manipulated, as seen in past AVAX price manipulation attacks.
GMX is built on the Arbitrum, and Avalanche GMX provides trading services for spot and perpetual contracts on the chain. GMX supports up to 30x leverage, and users can enjoy low transaction fees and near-zero spreads.
Since the GMX protocol is an aggregated quote from multiple exchanges, there is pelo slippage when trading on GMX, making it ideal for handling large orders. The issue of impermanent losses is also addressed by aggregated quotations, as the assets of liquidity providers placed into the GLP liquidity pool are not converted to other cryptocurrencies with reduced value due to price changes.
Avalanche’s GLP pool comprises AVAX, ETH, BTC, and USDC. The GLP pools on different chains are not connected, but the share of stablecoins is close to about 50%, equivalent to the asset index portfolio of a basket of cryptocurrencies.
In many ways, the GMX exchange is a better trading platform from a trader’s point of view. Open and close positions at GMX are not bought and sold with an order book or AMM liquidity pool, so there are no slippage issues. In addition, the GMX protocol uses Chainlink’s dynamic aggregation prognostic machine to aggregate quotes from multiple exchanges, which filters out illiquid and abnormal extreme value prices, thus reducing the risk of liquidation.
GMX supports a selection of 21 assets and offers high leverage of up to 100x, beneficial to traders looking for higher-risk plays. Additionally, the platform rewards users through staking and liquidity provision, making it a popular choice for earning DeFi yield.
A primeira cadeia a lançar contratos inteligentes foi este Ethereum. 1 here contrato inteligente possibilita que múltiplos scripts interajam entre si usando regras claramente definidas, de modo a executar tarefas que podem possibilitar se tornar uma FORMATO codificada de 1 contrato.
As long as there is liquidity in the pool, the exchange will complete the transaction without the risk of not finding a counterparty to match and being unable to trade.
GLP liquidity pools employ Chainlink’s dynamic aggregation prediction machine to receive pricing information from copyright, FTX, and copyright exchanges and filter out extreme values that lack actual liquidity.
GMX generates revenue through swap fees, borrow fees on leveraged trading, liquidations, and the minting and burning of GLP. These fees are split between GLP and GMX stakers.
Traders also benefit from a GLP liquidity pool that allows them to quickly exchange large amounts of assets without price volatility, more accurately predicting losses and profits for each trade and managing their money accordingly.